Key Highlights

• Micron rallied 17.1% following fiscal Q3 2026 results showing $41.46 billion in revenue, a 346% year-over-year increase, with EPS of $25.11 crushing the $20.5 consensus
• Company provided Q4 outlook of approximately $50 billion in revenue and roughly $31 EPS, significantly exceeding analyst projections
• Micron secured approximately $100 billion in multi-year strategic customer commitments through take-or-pay arrangements with 16 partners
• Leadership indicated supply won’t match demand until at least 2028
• Barclays upgraded MU price target by 70% to $2,000 from $1,175 while maintaining a Buy rating

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Micron Technology posted a quarter for the history books on Wednesday, sparking an immediate and powerful response from investors.

Micron Technology, Inc., MU

The semiconductor manufacturer specializing in memory chips revealed fiscal Q3 2026 sales of $41.46 billion, representing a 346% year-over-year surge and landing approximately 17% higher than Wall Street’s projections. The company’s non-GAAP earnings per share reached $25.11, significantly exceeding the consensus forecast of $20.50. Gross margin expanded dramatically to 84.9%, a stark contrast to the 39% recorded in the same period last year.

MU stock climbed 17.1% following the announcement, reaching $1,209 per share — marking a fresh 52-week high.

While the quarterly performance was impressive in isolation, forward-looking guidance proved to be the real catalyst behind the stock’s momentum.

Micron projected fiscal Q4 revenue at approximately $50 billion with earnings per share around $31. These figures substantially exceeded Wall Street expectations, which had anticipated Q4 revenue near $43 billion and EPS of approximately $25.31.

$100 Billion Worth of Binding Customer Commitments

The chipmaker disclosed it has executed 16 Strategic Customer Agreements (SCAs) — binding take-or-pay contracts spanning data center, consumer, and automotive sectors. Fourteen of these arrangements include a combined minimum revenue obligation of $100 billion throughout their duration.

These represent firm commitments backed by real capital. Partners have already deposited $22 billion. Standard SCAs extend five years (2026–2030), while automotive-focused agreements run for three-year periods.

Barclays analyst Thomas O’Malley characterized the SCA disclosures as exceeding expectations in both dollar magnitude and customer count. He boosted his MU price target by 70% to $2,000 from $1,175, applying a 12x multiple to his updated 2027 EPS projection of $166.74.

O’Malley highlighted that existing SCAs represent roughly 20% of total DRAM volume and 33% of NAND volume. After finalizing all pending agreements, Micron anticipates over 50% of its revenue will originate from these contractual commitments.

Data-center segment revenue exceeded $25 billion during the quarter — translating to an annualized run rate surpassing $100 billion.

Supply Constraints Expected Through 2028

Micron CEO Sanjay Mehrotra stated the company sees “no line of sight” to supply equilibrium with demand occurring before 2028. DRAM pricing increased in the low-60s percentage range during the quarter, fueled by a fundamental supply shortage affecting the entire industry.

This supply-demand imbalance is visible across competitors as well. Samsung disclosed a 146% spike in DRAM average selling prices during Q1. SK Hynix reported mid-60s percent price increases.

The constrained supply environment is affecting all three leading memory manufacturers.

It’s notable that MU shares had declined 13.6% just 48 hours prior following news that SK Hynix was moderating its high-bandwidth memory (HBM) expansion plans. That selloff now appears to have been an overreaction.

Investors should monitor HBM scaling expenses and new fabrication facility construction, which will contribute approximately $1 billion to FY2027 operating costs, along with the eventual repayment of the $22 billion in customer deposits.

Wall Street maintains a Strong Buy consensus rating on MU, featuring 28 Buy ratings against just one Hold. The average analyst price target of $1,526.67 suggests approximately 36% potential upside from current trading levels.

Micron shares have appreciated 283% year-to-date.

Cardano wallet SecondFi has identified a recovery path for users affected by Tuesday’s exploit and expects to begin returning assets in about two weeks, following testing and security reviews.

According to a Saturday statement by Phillip Pon, CEO of SecondFi developer Emurgo, the company completed forensic investigations and established a recovery pathway for affected users. Pon said the coming week would be spent building the solution, followed by another week of testing before assets begin to be returned.

Pon urged users to refrain from migrating assets or taking actions outside official guidance, saying the recovery process was designed around existing wallet states and that independent action could complicate the secure return of funds.

SecondFi developer Emurgo shared an update on the wallet’s recovery efforts. Source: Emurgo

SecondFi disclosed a security breach on Tuesday that affected approximately 16 million ADA, worth about $2.4 million at the time, across 374 addresses. SecondFi previously said it traced the incident to an address-level issue in its Cardano web wallet generation software that exposed users’ private keys.

Related: Q2 2026 emerges as most-hacked quarter on record with 83 incidents

The company also said it secured roughly 129 million ADA through emergency measures and transferred the funds to an independent third-party custodian, where they will remain until the verification and recovery process is complete.

SecondFi has not yet published a comprehensive post-mortem detailing the vulnerability or how the exploit was carried out.

SecondFi warns of recovery-related scams

In a separate update on Saturday, SecondFi warned that malicious actors are circulating fraudulent messages impersonating the wallet while its recovery effort remains underway. 

The company said no recovery actions requiring user participation have begun and that it will never ask users for private keys, seed phrases, wallet credentials or direct wallet access.

SecondFi said any messages instructing users to submit wallet information, migrate assets or take immediate action outside its verified communication channels should be treated as fraudulent. 

It added that users requiring assistance should submit a ticket through its official support portal while the recovery process continues.

Magazine: AI is banking the unbanked in Africa… faster than crypto

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Key Takeaways

• Oracle shares plummeted 19% over the past week — the most severe weekly decline since August 2001
• The company’s market valuation has dropped approximately 55% from its September peak near $900 billion
• Capital spending exploded 162% to almost $56 billion during fiscal 2026
• The company’s debt load reached approximately $130 billion by late May, accompanied by nearly $24 billion in negative free cash flow
• Despite the selloff, 71% of Wall Street analysts maintain Buy ratings — a 15-year high

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Oracle has just endured its most punishing week on the stock market in a quarter century. Shares tumbled 19% over five straight trading sessions, with daily losses exceeding 2.6% each day. The last time the enterprise software giant experienced such a devastating stretch was during August 2001, amid the dot-com bubble collapse.

Oracle Corporation, ORCL

The recent downturn represents more than just a bad week. Oracle’s market capitalization has contracted by roughly 55% since reaching approximately $900 billion last September.

Both the extended decline and this week’s brutal selloff share a common culprit: the escalating expenses tied to Oracle’s artificial intelligence strategy.

Oracle has committed heavily to AI infrastructure development, particularly through its involvement with OpenAI as part of the Stargate initiative. Constructing this infrastructure demands massive capital investment — and currently, shareholders are paying a hefty price.

Financial Metrics Paint a Concerning Picture

As of May’s conclusion, Oracle’s outstanding debt stood at roughly $130 billion. The company’s capital expenditure soared 162% during fiscal year 2026, hitting close to $56 billion.

Free cash flow registered at nearly negative $24 billion for the fiscal year.

To continue financing its infrastructure expansion, Oracle intends to secure an additional $40 billion in fiscal 2027 through combined debt and equity offerings. This follows the previous year’s $43 billion in debt issuance plus $5 billion raised through equity sales.

The fundamental challenge is clear: Oracle finds itself competing against Amazon, Microsoft, and Google in the race to construct AI data center capabilities — yet unlike these rivals, it cannot offer a comprehensive technology ecosystem. This constraint puts pressure on margins for what amounts to an extraordinarily expensive gamble.

Analyst Community Remains Largely Optimistic

Remarkably, analyst confidence hasn’t wavered despite the sharp decline. FactSet data shows 71% of ORCL analysts maintain Buy ratings — representing the strongest bullish sentiment in 15 years. The overall consensus stands at Strong Buy, reflecting 28 Buy recommendations, five Hold ratings, and zero Sell calls over the most recent three-month period.

The mean price target stands at $263.86, suggesting potential upside exceeding 77% from present levels.

Evercore, which holds a Buy rating on the stock, explained the situation in Wednesday’s research note: “We expect financing/leverage and the pace of equity issuance to remain the central investor debate near term, even as demand signals stay strong.”

This disconnect between professional analyst optimism and actual market performance represents the key narrative entering the following week.

As a footnote, Oracle co-founder Larry Ellison has also dropped several spots on global wealth rankings this week, falling behind Google’s co-founders, Jeff Bezos, and Michael Dell.

Key Highlights

• Starting July 1, AWS will implement a 20% price increase on reserved GPU compute resources, affecting Nvidia B200, B300, H100, and H200 processors.
• H200 pricing has now increased for three consecutive quarters — AWS GPU reservation costs have surged 20–50% since the start of the year.
• Wells Fargo reaffirmed its Buy recommendation on AMZN with a $312 price objective, viewing the increase as confirmation of cloud infrastructure pricing strength.
• Analyst consensus shows 57 Buy ratings on AMZN, with an average price objective of $312.78 — suggesting approximately 38.5% potential appreciation from current prices.
• Institutional shareholders control 72.2% of AMZN shares, with several major funds expanding their holdings during Q1 2026.

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Amazon (AMZN) shares climbed 2.5% Thursday following Wells Fargo’s positive commentary on AWS’s latest 20% reserved GPU compute price adjustment, interpreting the move as evidence of robust pricing dynamics and sustained AI infrastructure appetite.

Amazon.com, Inc., AMZN

AMZN began Friday’s session at $232.69. The shares currently trade beneath their 50-day moving average of $255.53 while maintaining a position above the 200-day moving average of $234.13. The stock’s 52-week trading band extends from $196.00 to $278.56.

The pricing adjustments become effective July 1 and apply to multiple Nvidia processor architectures — including the B200, B300, H100, and H200 models.

Regarding the H200 particularly, this marks the third straight quarter of upward pricing pressure. AWS implemented a 15% H200 price increase in Q1, followed by 10% in Q2, and now an additional 20% entering Q3. Cumulatively this year, AWS GPU reservation pricing has escalated between 20% and 50% across different chip configurations.

Wells Fargo analyst Ken Gawrelski maintained his Buy recommendation while establishing a $312 price objective. His interpretation: the sustained pricing increases demonstrate that AI compute demand continues exceeding available supply, enabling hyperscale providers like AWS to transfer elevated infrastructure expenses to end customers.

Understanding AWS Reservation Pricing Dynamics

AWS reservation blocks enable clients to secure GPU capacity for periods extending up to six months. The willingness of customers to accept escalating prices for guaranteed access reveals the persistent tightness in available supply.

Wells Fargo recognized that these price adjustments may not translate immediately into revenue gains, given that certain clients operate under existing contractual arrangements. Nevertheless, the firm views this development as reinforcing AWS’s extended growth trajectory.

AMZN maintains a Strong Buy consensus rating throughout Wall Street. Among analysts providing coverage within the last three months, 44 assign Buy ratings while one assigns a Hold rating. The consensus price objective stands at $319.24, implying roughly 38.5% upside potential.

Recent price objective adjustments include: JPMorgan elevating its target to $330, Truist increasing to $320, Wolfe Research establishing a $320 target, and Deutsche Bank moving to $315.

Institutional Holdings and Additional Growth Drivers

Institutional ownership represents 72.2% of outstanding shares. Clark Asset Management acquired 4,879 additional shares during Q1, expanding its complete AMZN holdings to 38,238 shares valued at approximately $7.96 million. Arrowstreet Capital expanded its position by 21% in Q4, currently maintaining over 24.6 million shares worth roughly $5.7 billion.

Beyond GPU pricing developments, Amazon has several additional strategic initiatives underway. The company revealed a $13 billion commitment to India extending through 2030 for AI and cloud infrastructure expansion. Prime Day performance also appears promising, with industry observers anticipating record-breaking sales figures.

Regarding potential headwinds, EU regulatory authorities have suggested AWS could encounter more stringent competitive oversight — representing a possible concern for investors. Certain analysts have additionally expressed reservations regarding the company’s substantial capital investment requirements.

Amazon’s latest quarterly performance delivered $2.78 EPS, exceeding the $1.63 consensus estimate by $1.15. Revenue reached $181.52 billion, representing 16.6% year-over-year expansion.

CEO Andrew Jassy divested 20,000 shares on May 21 at $263.42 through a previously established 10b5-1 trading arrangement.

Ripple CTO emeritus David Schwartz has pushed back on a fresh social media debate over whether XRP existed before Bitcoin. 

The exchange began after Crypto Dyl News claimed on X that “Bitcoin was NOT the 1st” and that XRP was created in 1988.

That claim drew a question from XRP community user MitchRob, who asked Schwartz whether Ryan Fugger had conceptualized XRP and the XRP Ledger before or after Bitcoin. Schwartz replied that Fugger had conceptualized a decentralized payment and settlement network around 2004, well before Bitcoin.

Schwartz added one key limit to that answer. He said Fugger’s idea did not include decentralized assets. That distinction separates RipplePay, Fugger’s early payment concept, from XRP and the XRP Ledger, which arrived later.

Ryan Fugger built RipplePay, not XRP

Fugger’s RipplePay concept dates back to 2004. It focused on payments, IOUs and trust lines between users. It did not operate as a blockchain in the modern crypto sense, and it did not include XRP as a native asset.

Ryan Fugger conceptualized a decentralized payment/settlement network (but without decentralized assets) around 2004, well before bitcoin.

— David ‘JoelKatz’ Schwartz (@JoelKatz) June 26, 2026

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Schwartz’s answer makes that point clear. He wrote that Fugger conceptualized a decentralized payment and settlement network “but without decentralized assets” around 2004. That means the idea came before Bitcoin, but XRP itself did not.

The official XRP Ledger history page places XRP’s launch in 2012. It says Schwartz, Jed McCaleb and Arthur Britto built a distributed ledger that aimed to improve on Bitcoin’s limits. The ledger included a native asset that became XRP.

The XRPL learning portal also says the three developers joined forces in 2011 to create a faster and more scalable digital asset. That timeline puts XRP after Bitcoin, not before it.

XRP origin debate continues online

MitchRob later asked whether Satoshi Nakamoto may have drawn any inspiration from Fugger’s earlier concepts. He also asked which network was built with a better framework for payments and settlement.

Schwartz had not answered that follow-up in the provided thread at the time of writing. The question remains speculative because no public evidence in the thread shows that Satoshi used Fugger’s work when designing Bitcoin.

The confusion comes from the Ripple name. Fugger’s RipplePay project came before Bitcoin, while the XRP Ledger came after Bitcoin. Ripple Labs later used the Ripple name, but the technical system behind XRP was built separately.

As previously reported, David Schwartz recently explained his XRP Ledger role after stepping back from daily leadership. The report noted that he remains CTO emeritus and one of XRPL’s co-creators.

XRPL history still matters

The debate comes as XRP Ledger development continues. In a previous article, crypto.news discussed Schwartz backing the XRP Ledger 3.2.0 upgrade, which renamed the core server software from rippled to xrpld.

That update moved XRPL further away from older Ripple-branded software names. It also added cleanup fixes for features tied to DeFi tools, vaults, lending, permissioned domains and token functions.

Previously, crypto.news explored XRPL’s growing tokenized finance use cases. Schwartz said XRPL use is expanding from payments into tokenized assets, stablecoins and other financial tools.

The latest exchange does not change XRP’s history. Fugger helped shape an early payment idea before Bitcoin. XRP and XRPL, however, began later as separate code written by Schwartz, McCaleb and Britto.

Cathie Wood has said that rising global instability has created the conditions for another Bitcoin rally as investors increasingly look for assets that can protect wealth across borders.

According to a June 27 X post by ARK Invest founder Cathie Wood, capital leaving economically and politically unstable countries is likely to provide fresh momentum for Bitcoin and other digital assets.

Capital outflows from less stable countries around the world will light another fire under bitcoin and other digital assets. AI has launched a technology revolution, deservedly sucking a lot of oxygen out of the investment world, but it cannot serve as the insurance policy… https://t.co/Xmtt1DnroX

— Cathie Wood (@CathieDWood) June 27, 2026

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She argued that while artificial intelligence has captured investor attention and a large share of market liquidity, it cannot replace the role digital assets play during periods of uncertainty.

Bitcoin remains a hedge against global instability

In her post, Wood said AI has launched a technological revolution and is attracting substantial investment, but described digital assets as a form of “insurance policy” for protecting wealth when confidence in traditional financial systems weakens.

She linked this view to growing capital outflows from less stable nations, saying those flows could “light another fire” under Bitcoin and the broader digital asset market.

Rather than competing directly, Wood suggested AI and crypto serve different purposes in today’s investment landscape. While AI companies continue drawing fresh capital because of their growth prospects, she argued that Bitcoin addresses a separate need by offering an alternative store of value that can move across borders more easily than many traditional assets.

Her comments come as investors continue weighing geopolitical tensions, inflation concerns, currency weakness in several regions, and uncertainty surrounding monetary policy. According to Wood, these conditions are increasing demand for assets that can preserve purchasing power while remaining accessible outside domestic financial systems.

The remarks also follow a post by ARK analyst Lorenzo Valente, who argued that many investors are overlooking crypto’s original purpose. Valente wrote that although the market has become increasingly institutional, digital assets should not be viewed only as risk-on investments because they continue to serve as financial protection in uncertain environments.

ARK continues adding crypto-related investments

Wood’s latest comments coincide with continued buying activity across ARK Invest’s exchange-traded funds.

According to ARK Invest’s latest daily trade disclosure, the firm purchased about $25.54 million worth of shares in Coinbase, SpaceX, Circle, Bullish, and Robinhood.

Coinbase represented the largest purchase by value. ARK acquired 68,366 shares through the ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF. Based on Friday’s closing price of $149.06, the transaction was worth about $10.19 million.

SpaceX ranked second after ARK bought 45,728 shares through four of its ETFs, including ARKQ and ARKX, for roughly $7.01 million using the company’s closing price of $153.23.

The investment manager also added 78,756 Circle shares valued at approximately $5.79 million, alongside smaller purchases of Bullish and Robinhood shares worth around $1.34 million and $1.21 million, respectively.

The latest buying activity is consistent with Wood’s positive view on financial markets despite ongoing concerns about inflation and interest rates.

As crypto.news previously reported, she said discussions with investors across Asia and Europe indicated many expect inflation to remain persistent and believe the Federal Reserve could tighten monetary policy further. Even so, Wood argued that incoming economic data points toward a different outcome.

Hong Kong has confirmed that its first regulated stablecoins are expected to enter circulation between the middle and second half of 2026 after two bank-backed institutions secured issuer licenses earlier this year.

According to a written reply by Secretary for Financial Services and the Treasury Christopher Hui to Hong Kong’s Legislative Council, the Hong Kong Monetary Authority (HKMA) granted stablecoin issuer licenses to two institutions with banking backgrounds in April 2026. Hui said the expected launch timeline is based on the institutions’ existing business plans.

The response also outlined how regulators intend to supervise the market after the rollout, saying the licensing framework is designed to support financial innovation while protecting users and maintaining monetary and financial stability.

Licensed issuers face reserve and supervision requirements

While confirming the launch window, the government said the HKMA had already considered the effect that regulated stablecoins could have on Hong Kong’s banking system before creating the licensing framework.

Under the Stablecoins Ordinance, which took effect in August 2025, licensed issuers must back their tokens with eligible reserve assets, including bank deposits and high-quality liquid debt securities. The government said those reserves must be placed with banks in Hong Kong, while the HKMA retains the authority to impose additional requirements if market conditions warrant.

Beyond the reserve rules, the central bank said it will carry out ongoing supervision once regulated stablecoins begin circulating and will continue assessing whether issuance affects bank deposits, lending activity, or overall financial stability.

At the international level, the government added that the HKMA is participating in studies led by organizations such as the Bank for International Settlements to examine how wider stablecoin adoption could affect traditional banking systems and to keep Hong Kong’s framework aligned with evolving global standards.

Separately, the government said the two licensed issuers are already participating in pilot projects involving central bank digital currency networks, tokenized deposits, and cross-border payment infrastructure. According to the reply, future adoption of these payment technologies will depend on demand across different use cases.

The announcement follows another digital payments initiative in Hong Kong. As previously reported by crypto.news, HKEX, and the HKMA recently began testing a wholesale e-HKD for derivatives trading, allowing clearing participants to use central bank digital currency for after-hours margin payments. The pilot is intended to improve settlement outside normal banking hours, although any commercial rollout remains subject to regulatory approval and operational readiness.

Enforcement expands as Hong Kong prepares more crypto rules

Alongside the rollout plans, the government said regulators have begun taking action against businesses that continue offering stablecoins without authorization.

According to the Legislative Council reply, the HKMA has issued letters to unregulated stablecoin providers explaining the legal requirements under the Stablecoins Ordinance and has continued monitoring whether those businesses comply. Depending on the circumstances, cases may be referred to the Police or the Department of Justice.

The Securities and Futures Commission (SFC) also shares information with the HKMA when it identifies suspected marketing of unregulated stablecoins to Hong Kong residents through its monitoring under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

Looking beyond stablecoin issuance, the government said it will introduce legislation later this year covering virtual asset trading, custody, advisory, and management service providers to create a more comprehensive regulatory framework.

Officials also reiterated that regulated stablecoins are intended to function as blockchain-based payment instruments rather than speculative investments. The government warned that people who acquire unregulated stablecoins through unregulated channels do so at their own risk, while adding that financial regulators will continue public education campaigns and maintain updated lists of licensed entities.

Key Takeaways

• Shares of Moderna surged approximately 13% to $67.50, marking the highest closing price since September 2024, driven by announcements at its investor day presentation.
• The biotech firm introduced mRNA-6007, its inaugural in vivo CAR-T therapy program, aimed at autoimmune conditions such as lupus, with clinical trials scheduled to start in 2027.
• A unanimous 9-0 vote from an FDA advisory committee supported approval of Moderna’s influenza vaccine for individuals aged 50 and above, with a final FDA ruling expected on August 5, 2026.
• Jefferies analyst Andrew Tsai increased his price target to $53 from $45, while Piper Sandler’s Edward Tenthoff boosted his to $77, reaffirming an Overweight stance.
• Overall Street sentiment remains neutral with a Hold consensus rating and an average price target of $45.42 — suggesting potential downside from current price levels.

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Shares of Moderna (MRNA) experienced a substantial rally on Friday, climbing roughly 13% to reach $67.50, positioning the biotech stock for its strongest close since September of last year. The impressive gain made MRNA the standout performer within the S&P 500 during the trading session. Intraday, shares briefly spiked nearly 15%, approaching the $69 level.

Moderna, Inc., MRNA

The surge was triggered by Moderna’s investor day presentation, during which the company unveiled an extensive expansion of its drug development pipeline that reaches far beyond its COVID-19 vaccine foundation.

MRNA has now advanced approximately 42% over the past 30 days, indicating a notable shift in market sentiment toward the stock.

The marquee reveal was mRNA-6007, Moderna’s inaugural in vivo CAR-T therapy program. The company intends to initiate clinical development by 2027, with an initial focus on B-cell-driven autoimmune disorders, particularly systemic lupus erythematosus.

Unlike conventional ex vivo CAR-T treatments that require removing patient T-cells, engineering them in laboratory settings, and reinfusing them, in vivo CAR-T therapy reprograms T-cells directly within the patient’s body. This approach offers greater efficiency and reduced costs.

Moderna isn’t the only pharmaceutical company pursuing this cutting-edge technology. Earlier this year, Eli Lilly acquired Orna Therapeutics primarily to gain access to its in vivo CAR-T platform. Notably, Lilly shares also rose 6% on Friday, boosted by favorable feedback from European regulators regarding its oral cancer treatment.

Strategic Roadmap Divided Into Three Phases

Moderna presented its strategic vision organized into three separate “horizons.” The initial phase emphasizes advanced, near-commercial assets, including current marketed products and late-stage pipeline candidates.

Jefferies analyst Andrew Tsai projects the company could launch more than seven new products spanning respiratory, oncology, and rare disease categories within the next two years. This would represent a significant expansion from its current portfolio of three approved vaccines.

Tsai highlighted Phase III melanoma trial results, anticipated in the latter half of 2026, as a critical upcoming milestone, describing it as “a major event” for shareholder value. He maintains a Hold rating while elevating his price target to $53 from the previous $45.

Another program drawing considerable attention is mRNA-4194, Moderna’s pioneering cancer prevention therapy designed for Lynch syndrome patients. Additionally, the company is progressing with mRNA-1195, its multiple sclerosis candidate, which should generate preliminary data later in 2026.

Influenza Vaccine Provides Additional Momentum

Beyond oncology and autoimmune therapeutics, Moderna received encouraging news regarding its flu vaccine candidate mRNA-1010 when an FDA advisory committee delivered a unanimous 9-0 vote recommending approval for adults 50 years and older.

The FDA’s final determination is scheduled for August 5, 2026. Approval would provide the company with another revenue-generating product independent of its COVID franchise.

Piper Sandler analyst Edward Tenthoff elevated his price target to $77 from $69 and maintained an Overweight rating, citing the substantial progress showcased during the investor day event.

However, despite positive reactions from select analysts, the broader Wall Street consensus remains at Hold, comprising two Buy ratings, 19 Hold ratings, and three Sell ratings across the past three months. The consensus price target of $45.42 suggests more than 31% potential downside from current trading levels.